Registered number
02064704
CITY IRRIGATION LIMITED
Unaudited Filleted Accounts
30 November 2023
CITY IRRIGATION LIMITED
Registered number: 02064704
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 209,577 200,172
Current assets
Stocks 479,563 402,646
Debtors 4 58,421 46,726
Cash at bank and in hand 194,309 319,767
732,293 769,139
Creditors: amounts falling due within one year 5 (95,900) (101,830)
Net current assets 636,393 667,309
Total assets less current liabilities 845,970 867,481
Provisions for liabilities 6 (4,975) (2,122)
Net assets 840,995 865,359
Capital and reserves
Called up share capital 100 100
Profit and loss account 840,895 865,259
Shareholders' funds 840,995 865,359
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 20 March 2024
M French G S Hollox Y M Hollox
Director Director Director
CITY IRRIGATION LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 273,088 58,981 40,744 372,813
Additions - 14,858 11,750 26,608
Disposals (20,573) - (35,244) (55,817)
At 30 November 2023 252,515 73,839 17,250 343,604
Depreciation
At 1 December 2022 94,821 42,377 35,443 172,641
Charge for the year 4,035 5,910 3,264 13,209
On disposals (20,574) - (31,249) (51,823)
At 30 November 2023 78,282 48,287 7,458 134,027
Net book value
At 30 November 2023 174,233 25,552 9,792 209,577
At 30 November 2022 178,267 16,604 5,301 200,172
4 Debtors 2023 2022
£ £
Trade debtors 27,888 24,257
Other debtors 30,533 22,469
58,421 46,726
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 66,584 67,207
Taxation and social security costs 23,015 29,676
Other creditors 6,301 4,947
95,900 101,830
6 Provision for liabilities 2023 2022
£ £
Deferred taxation 4,975 2,122
4,975 2,122
7 Events after the reporting date
There were no significant events since the balance sheet date that in the opinion of the directors would effect these accounts.
8 Other information
CITY IRRIGATION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Bencewell Granary
Oakley Road
Kent
BR2 8HG
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